ADDING MULTIMEDIA IIX, Shujog, and KKR Partner with Glovax to Scale Social Impact
July 20, 2015
Glovax,
Increases
Vaccine Distribution and Employment
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“I know first-hand good health is the foundation upon which people
advance in society,” said Glovax founder and CEO,
Launched in 2003, Glovax offers a critical service in
It also manages a Low-Income Relief Unit to offer free vaccinations to the Philippines’ poorest demographic. Managed in partnership with socio-civic organizations, Glovax effectively responds to local communities’ needs, having provided more than 130,000 doses of free vaccinations.
IIX, Shujog and KKR partnered to provide necessary financial, operational, and analytical expertise to better position Glovax for funding. Members of IIX, KKR, and KKR Capstone – an independent team of operational experts – conducted site visits and assessed Glovax’s business model and social impact. The team helped Glovax develop a business plan, financial model and impact assessment.
Following the technical assistance project, Glovax obtained a
“The lessons learned from KKR and IIX gave me the confidence to be more aggressive in raising funds,” said Alingog. “KKR and IIX showed me that raising equity now would be expensive and dilutive. Instead, we explored cheaper forms of capital. As a result, Glovax secured bank credit and is better positioned to thoughtfully grow and help more Filipino patients receive life-saving vaccines. Without this project, we may still be struggling to raise equity. Now, we are investing and growing.”
“Our Social Impact Assessment shows that by helping people avoid
disease, Glovax protects its customers and their families from suffering
while enabling a chance to continue their education, better hold steady
employment, and elevate out of poverty,” said
“Leveraging KKR and KKR Capstone’s financial and operational skills
gives Glovax the opportunity to increase its financial return and scale
its social impact,” said
Glovax aims to next scale its business and its social impact with a target of providing approximately 3.5 million additional doses of vaccines to low-to-lower-middle-income Filipinos by 2018 by building out its network of doctors, increasing the number of vaccines it imports and distributes, and expanding its branded VaxCen clinics.
A video case study on Glovax and the IIX and KKR technical assistance project can be viewed here: https://www.youtube.com/watch?v=CeizzBttoYo&feature=youtu.be
About Glovax
Glovax opened its first vaccination clinic in 2003 and has now grown its
business to three clinics and 10 retail distribution centers across
About Impact Investment Exchange Asia (IIX)
IIX is a
About Impact Investment Shujog (Shujog)
Shujog is a not-for-profit organization based in
About KKR
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com.
About KKR Capstone
KKR Capstone is an operational team of highly experienced industry executives and functional specialists. The team works exclusively for KKR and on KKR investments on the ground in partnership with management teams to create sustainable improvements. KKR Capstone also leads the implementation of sustainability initiatives that help portfolio companies manage their environmental impact while also improving their businesses.
References to “KKR Capstone” or “Capstone” include their local affiliates, which are owned and controlled by their senior management. KKR Capstone is not a subsidiary or affiliate of KKR. KKR Capstone operates under several consulting agreements with KKR and uses the “KKR” name under license from KKR. References to operating executives, operating experts, or operating consultants are to employees of KKR Capstone and not to employees of KKR.
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IIX/Shujog
rkraybill@asiaiix.com
jlim@shujog.org
or
KKR
steven.okun@kkr.com
anita.davis@kkr.com
or
rishi.miyata@ogilvy.com
korina.iledan@ogilvy.com
Source: KKR
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